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The Russian oligarch’s $500 million mega yacht is upsetting US-Hong Kong relations

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It was the huge yacht that escaped. As Western sanctions hit Vladimir Putin’s allies earlier this year in the wake of the Russian leader’s invasion of Ukraine, their luxury yachts were on. They took over one by one in jurisdictions around the world.

But not nord, a $500 million ship linked to steel magnate Alexei Mordashov. This spring the ultra-luxury yacht risk collision By turning off the transponders and racing in full force to Vladivostok from the Indian Ocean, evading the grip of the Western authorities.

Now, to the outrage of US officials, it is established for all to see in Hong Kong – and the authorities do nothing about it.

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A spokesman for the Maritime Administration of Hong Kong . said financial times:

“Some countries may impose unilateral sanctions against certain places based on their own considerations,” but the Hong Kong government “does not implement, and we do not have the legal authority to take action on, unilateral sanctions imposed by other jurisdictions.”

US officials were not impressed. Foreign Office officials told the British newspaper that “Hong Kong’s reputation as a financial center depends on adherence to international laws and standards…and the potential use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions calls into question the transparency of the business environment.”

Others agreed.

That would “significantly increase the risk if Hong Kong becomes widely seen as a popular destination for the assets of Russian companies or individuals subject to sanctions,” Ryan Mitchell, a professor of international law at the Chinese University of Hong Kong, told the newspaper. “Companies or individuals in Hong Kong should be aware that they may subsequently face secondary sanctions if they enter into business transactions or relationships with Russian sanctions targets,” he added.

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Mordshov has Close relations with Putin He made billions from his work as head of Severstal, the Russian steel and mining giant.

However, not all of his yachts escaped. In April, Italy took over lady m luxury yacht In the port of Imperia after the European Union blacklisted Mordashov. However, this yacht is only worth $27 million and is only 215 feet long.

The nordIn contrast, it is 465 feet long and is valued at half a billion dollars. a Luxury Yachting Times A video about the ship, made by a German shipyard, has garnered more than 570,000 views on YouTube.

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5 takes from Wall Street analysts

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There is no doubt that Costco (cost) had a good year.

For one thing, Yahoo Finance has outperformed the 2022 bear market — the stock is down 13% so far this year to about $495 a share compared to a 15% drop for the S&P 500 (^ The Salafist Group for Preaching and Combat) as of December 2. In addition, many investors love the big retail store because of its die-hard clientele and solid balance sheet.

Of course there are some critics. They worry about the company’s high valuation amid scary times in the markets and the economy.

So what are the prospects for COST? Yahoo Finance recently spoke with five Wall Street securities analysts to get their thoughts. Here are their edited excerpts:

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Evan Feneth, Tigress Financial Partners

What’s good about Costco stock: The Company consistently reports strong same-store sales growth in both good and challenging retail environments. Costco remains well-positioned to see increases in traffic online and in stores, largely because it provides consumers with an important low-cost value proposition. In addition, Costco is taking advantage of its expanding service offerings, including travel, home improvement, and expanded business services. Renewal rates are also at an all-time high.

What does it matter: What is always of concern are changes in consumer spending trends in light of economic changes.

Rating / Target Price: Buy / $678

Final thoughts: Costco continues to see the good times as consumers spend more on discretionary items (such as air travel). In tough economic times consumers are looking for bargains. You can see this in the strength of memberships that continue to grow. Their customers pay for the opportunity to shop there and believe it is worth the fee because of Costco’s strong value proposition.

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Oliver Chen, Quinn

What’s good about Costco stock: Costco continues to be a leading consumer brand for us — what we’re seeing is the company is well positioned for strong first-class performance given the encouraging historical consistency and unique membership model that focuses on deep value. We especially like Costco’s differentiation with its Kirkland Signature private label and limited assortment across 3,500 stock keeping units (SKU’s), which gives the company massive buying power.

What does it matter: In our view, the key arguments about Costco remain: (1) the emergence of more stringent comparable metrics as the company continues to drive steady growth; (ii) the evolution of consumer behaviors, the company’s ability to maintain loyalty, and consistent membership metrics; (3) High current given rating The price-to-earnings ratio, which contracted five percent from its three-year average.

Rating / Target Price: Exceed / $650

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Final thoughts: We believe the company has both the ability and experience to drive continued strong retail execution and believe core competencies. One of its main strengths is that Costco is one of the few American concepts that is relatively successful on a global scale. Also: Its size makes it one of the best buys with great buying power across a limited selection of items. Finally, Costco’s unique vertically integrated supply chain delivers outstanding distribution and cost effectiveness, (for this reason) we maintain a “Superior” rating.

Michael Baker, DA Davidson

What’s good about Costco stock: Inventory positives include significant and consistent same-store sales growth.

What does it matter: Our biggest concern and the reason we have a neutral rating is the above average COST multiplier. We also saw some declines in gross margin.

Rating / Target Price: Neutral/ $455

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Final thoughts: Costco is a top-tier operator with strong sales and earnings trends and forecasts. But we think that’s reflected in the current share price.

Chuck Groom, Gordon Haskett Research Consultants

What’s good about Costco stock: Consistency of the underlying comp business month to month, usually driven by healthy traffic trends. Also, the membership fee stream is an annuity for the long haul. The balance sheet is also very good with low leverage and ample cash.

What does it matter: Valuation has always been a sticking point for investors, but that’s been the case for the more than 20 years Costco has covered it.

Rating/Price Target: Buy / $600

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Final thoughtsCostco does what’s right for its customers first, employees second, and shareholders third. This approach makes it one of the best retailers we cover.

Corey Tarlow, Jefferies

What’s good about Costco stock: Well…for now [economic] The background, it’s a business with a really good standing. It has a membership model that drives recurring revenue; Very stable margins and predictable cash flow. It’s a business in times when inflation is at 8%, more consumers are looking for ways to save money. And Costco is a great way to do that at better prices than most other retailers in the US, it’s a company that also has several growth drivers (such as) a potential membership fee increase.

What does it matter: It’s been a really strong year this year. So this year’s winding may be a little tricky hurdle next year. But it is nonetheless something that I think Costco will be able to achieve.

Rating / Target Price: Buy / $610

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Final thoughts: It’s a business that’s really well-positioned in the current environment. We do not know what to expect from a macroeconomic point of view in the future. But it’s a business that, like I said, performs admirably in the good times, and even in the bad. It’s a stock you want to own today.

More Yahoo Finance coverage for 2022:

Dylan Kroll is a reporter and researcher for Yahoo Finance. Follow him on Twitter at @tweet.

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TherapeuticsMD enters into product licensing agreements for Mayne Pharma

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TherapeuticsMD enters into product licensing agreements for Mayne Pharma

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The Minister of the Interior welcomes the report calling for the suppression of asylum seekers

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Soella Braverman, Britain’s Home Secretary, has welcomed a report calling for a massive crackdown on asylum seekers who come to Britain using illegal methods, including placing them in indefinite detention.

Braverman is under increasing pressure from Tory MPs to control migration across the Channels in small boats, with 44,000 people arriving in Britain using the route already this year.

On Monday, a centre-right think tank will publish a report saying that “if necessary” Britain should change its human rights laws and withdraw from the European Convention on Human Rights in order to tackle the problem.

Refugee groups said the proposals, if implemented, would be a major breach of Britain’s international obligations and tarnish its reputation as a haven for desperate people seeking refuge.

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The Center for Policy Studies report, co-written by Nick Timothy, Theresa May’s former chief of staff as prime minister, calls for new laws that would make it impossible to seek asylum in Britain after traveling from a safe country, such as France.

It also calls for a ban on immigrants entering the country using illegal routes from settling in Britain, and for the “expedited transfer abroad” of such immigrants to Rwanda or other third countries willing to take them.

Timothy and co-author Carl Williams say Britain may have to leave the European Court of Human Rights to allow detention and transfers abroad. They also want to fix May Modern slavery lawthe main legislative tool in the UK to deal with abuses in supply chains, to avoid its alleged misuse.

They argue that all future grants of asylum should only take place through formal resettlement routes and no more than 20,000 people per year.

The issue of small boat immigration became a major political problem for the Conservative government, particularly in the working class seats in the North and Midlands.

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Braverman said she did not agree with “everything” in the report but said she welcomed it as “a vital and necessary contribution to the policy discussion about what can be done to address crossings.”

In the introduction to the report, she said: “There is a range of policy options. With clear thinking, political will and determination, we can defeat the smuggling gangs, and against those who abuse our system, and we will comprehensively address the problem of small boats.”

Tory MPs are tired of the tough talk of home ministers and want action from the government to tackle the surge in migrant crossings. Braverman’s allies have refused to say which parts of the CPS report they support.

They were also described as “wrong”. a report The Sunday Times reported that ministers were drafting laws to prevent illegal asylum-seekers from settling in Britain.

For his part, Robert Jenrick, the Immigration Minister, said it was “very difficult” to see how Albanians, who are currently The largest number of small boat crossingsthey must be able to successfully claim asylum when they come from a ‘clearly’ safe country.

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Inver Solomon, chief executive of Refugee Council, a UK charity, said of the CPS report: “The policies outlined in this report will lead to the UK withdrawing from the Refugee Convention, which we signed up to just over 70 years ago.”

Yvette Cooper, the shadow home secretary, said the government’s asylum policy was “a mess” and based on “a headline-hunting”.

“They have to adopt the Labor plan including a specialized unit in the National Crime Agency to go after the criminal gangs that lead this, and take immediate action to end the backlog and chaos from the asylum system,” she said.

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